The Time is Now, Here is Why... If there was ever a time to upgrade to a new home, the time is NOW for a number of reasons: • As a way to stimulate the country’s housing market, Congress has passed new legislation expanding the credit to current home owners purchasing a home up to $6,500 through April 30th of next year. Your current home will likely be purchased by a first-time homebuyer, looking to take advantage of the huge tax credit. • But more important is how low interest rates have been --- hovering at about 5%, and likely continuing in that range in the coming year. “In the recent months, we have seen interest rates dip to historic lows, the lowest they have been in nearly 40 years,” explained Enrique Piñeiro, Founding Principal and Broker of Record, Ros Realty Group, Inc. There is no guarantee that those rates will remain at historic lows past the middle of next year. • Also, since valuations have dropped in the past year so dramatically, the likelihood of further reduction in real estate taxes is highly probable for 2010. So, you can count on lower real estate taxes – and locking those in with a homestead extension -- by buying and locking in a purchase in 2010. Currently, we are seeing home prices at 2004 levels; so if you missed buying that dream house a couple of years ago --- now’s the time!